Transcend Capital Advisors LLC Increases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Transcend Capital Advisors LLC grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,990 shares of the medical research company’s stock after acquiring an additional 69 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $686,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LH. SouthState Corp purchased a new position in Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the third quarter worth about $29,000. Fortitude Family Office LLC increased its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares during the period. Finally, Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter worth about $39,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $241.00, for a total value of $241,000.00. Following the completion of the transaction, the director now directly owns 7,712 shares of the company’s stock, valued at approximately $1,858,592. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,832 shares of company stock worth $4,788,995. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LH shares. Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Trading Up 0.3 %

LH opened at $249.86 on Friday. The stock has a market cap of $20.90 billion, a PE ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $238.93 and a 200-day moving average of $231.69. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is 32.65%.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.